This is an actual result of a recent Natural Gas procurement auction conducted through The Energy Exchange. The only thing that has been deleted is the client’s name. Nothing else has been changed. This was the second round of bidding.
The client had already decided to go with a fixed contract with 10% swing tolerance and wanted to see the possible savings associated with various term lengths. Look at what is revealed on this simple, one-page Auction Result Report:
UPPER LEFT CORNER
- Summary of the client’s current contract (before the auction).
MIDDLE SECTION – Winning Bids
- The winning bids for each of the 4 possible contract term lengths
- 12 months
- 18 months
- 24 months
- 36 months
- The Annual savings associated with each option.
- The Term savings associated with each option
- In this case, the client elected to sign a 2-year contract, saving $35,084 compared to their current rate.
- Every bid from every participating supplier
- In this case, we had 8 natural gas suppliers bidding for the client’s business
- The winning bids are highlighted in yellow, and these are automatically posted to the Middle Section.
- Supplier #6 was the winner for all term lengths.
This is a perfect example of The Energy Exchange in action: Every Supplier. Every Price.